Market Overview

Wednesday's S&P 500 Sector Recap 6/29/11

The S&P 500 (SPX) put in another sizable gain in today's session, gaining 10.74 (+0.8%) points on the day. The index closed at 1307.41, slightly below its intraday high of 1309.21.

The Sector breakdown for Wednesday's session is as follows:

The Financials Sector was the strongest performing area of the S&P 500 in today's session, gaining 2.8% on the day. The sector was buoyed by the gains of credit card companies, which reacted positively to news that the Federal Reserve staff will recommend to nearly double the proposed cap that banks can charge retailers for debit card transactions. More detail on this topic can be found here. The strongest performing stocks in the S&P Financial Sector in today's action were:

1) Visa (NYSE: V): Shares of Visa finished up 15% from yesterday's close to $86.57.

2) Mastercard (NYSE: MA): Shares of Mastercard finished up 11.3% from yesterday's close to $309.70.

3) Morgan Stanley (NYSE: MS): Shares of Morgan Stanley finished up 4.7% from yesterday's close to $23.39.

The S&P Basic Materials Sector gained 1.3% on the day. A decline in the dollar lifted stocks in this area of the market in today's session. The strongest performing stocks in the S&P Basic Materials Sector in today's action were:

1) United States Steel (NYSE: X): Shares of United States Steel finished up 5.8% from yesterday's close to $2.54.

2) AK Steel Holding (NYSE: AKS): Shares of AK Steel finished up 5.1% from yesterday's close to $15.51.

3) Allegheny Technologies (NYSE: ATI): Shares of Allegheny Technologies finished up 4.3% from yesterday's close to $64.29.

The S&P Oil & Gas Sector gained 1.1% on the day. A rise in NYMEX crude futures helped lift the sector in today's session. Oil has gained 6% since hitting $89.60 on June 27th. The strongest performing stocks in the S&P Oil & Gas Sector in today's action were:

1) FMC Technologies (NYSE: FTI): Shares of FMC Technologies finished up 3.6% from yesterday's close to $44.07.

2) Cameron International (NYSE: CAM): Shares of Cameron International finished up 3.1% from yesterday's close to $49.06.

3) Sunoco (NYSE: SUN): Shares of Sunoco finished up 2.5% from yesterday's close to $41.21.

The S&P Consumer Goods Sector gained 0.7% on the day. The strongest performing stocks in Consumer Goods sector in today's session were:

1) Monsanto (NYSE: MON): Shares of Monsanto finished up 5% from yesterday's close to $70.26.

2) Electronic Arts (NASDAQ: ERTS): Shares of Electronic Arts finished up 4.7% from yesterday's close to $23.61.

3) Johnson Controls (NYSE: JCI): Shares of Johnson Controls finished up 3% from yesterday's close to $41.36.

Weakness in the Sector: The following Consumer Goods stocks showed signs of weakness in today's session despite overall positive sector performance:

1) Pultegroup (NYSE: PHM): Shares of Pultegroup finished down 3.9% on the day to $7.58.

2) DR Horton (NYSE: DHI): Shares of DR Horton finished down 3.2% on the day to $11.37.

The S&P Telecomm Sector gained 0.6% on the day. The strongest performing stocks in the Telecomm Sector in today's session were:

1) Centurylink (NYSE: CTL): Shares of Centurylink finished up 1.1% from yesterday's close to $40.26.

2) Leucadia National (NYSE: LUK): Shares of Leucadia National finished up 1% from yesterday's close to $33.68.

3) AT&T (NYSE: T): Shares of AT&T finished up 0.8% from yesterday's close to $31.26.

The S&P Consumer Services Sector gained 0.5% on the day. The strongest performing stocks in the Consumer Services Sector in today's session were:

1) eBay (NASDAQ: EBAY): Shares of eBay finished up 6.5% from yesterday's close to $30.86.

2) SUPERVALU (NYSE: SVU): Shares of SUPERVALU finished up 3.8% from yesterday's close to $9.47.

3) Safeway (NYSE: SWY): Shares of Safeway finished up 2.6% from yesterday's close to $23.21.

Weakness in the Sector: The following Consumer Services stocks showed signs of weakness in today's action, despite overall positive sector performance:

1) Gamestop (NYSE: GME): Shares of Gamestop finished down 1.4% from yesterday's close to $25.99.

2) Ross Stores (NASDAQ: ROST): Shares of Ross Stores finished down 1.2% from yesterday's close to $79.34.

3) Urban Outfitters (NASDAQ: URBN): Shares of Urban Outfitters finished down 1.2% from yesterday's close to $28.34.

The S&P Industrials Sector gained 0.46% on the day. The strongest performing stocks in the Industrials Sector in today's session were:

1) Textron (NYSE: TXT): Shares of Textron finished up 2.4% from yesterday's close to $23.21.

2) Quanta Services (NYSE: PWR): Shares of Quanta Services finished up 2.2% from yesterday's close to $20.34.

3) Rockwell Automation (NYSE: ROK): Shares of Rockwell Automation finished up 2.2% from yesterday's close to $85.85.

Weakness in the Sector: The following Industrials stocks showed signs of weakness in today's action, despite overall positive sector performance:

1) Monster Worldwide (NYSE: MWW): Shares of Monster Worldwide finished down 2.5% from yesterday's close to $14.53.

2) Goodrich (NYSE: GR): Shares of Goodrich finished down 1.1% from yesterday's close to $93.60.

3) Sherwin-Williams (NYSE: SHW): Shares of Sherwin-Williams finished down 1% from yesterday's close to $82.66.

The S&P Utilities Sector gained 0.46% on the day. The strongest performing stocks in the Utilities Sector in today's session were:

1) NRG Energy (NYSE: NRG): Shares of NRG Energy finished up 1.6% from yesterday's close to $24.29.

2) The AES Corp (NYSE: AES): Shares of AES finished up 1.1% from yesterday's close to $12.60.

3) Firstenergy (NYSE: FE): Shares of Firstenergy finished up 1.1% from yesterday's close to $43.95.

Weakness in the Sector: The following Utilities stocks showed signs of weakness in today's action, despite overall positive Sector performance:

1) Entergy (NYSE: ETR): Shares of Entergy finished down 1.2% from yesterday's close to $68.29.

The S&P Technology Sector gained 0.2% on the day. The strongest performing stocks in the Technology Sector in today's session were:

1) Dell (NASDAQ: DELL): Shares of Dell finished up 2.6% from yesterday's close to $16.42.

2) Verisign (NASDAQ: VRSN): Shares of Verisign finished up 2.5% from yesteray's close to $33.57.

3) Akamai Technologies (NASDAQ: AKAM): Shares of Akamai Technologies finished up 2.3% from yesterday's close to $30.80.

Weakness in the Sector: The following Technology stocks showed signs of weakness in today's action, despite overall positive Sector performance:

1) JDS Uniphase (NASDQ: JDSU): Shares of JDS Uniphase finished down 3.6% from yesterday's close to $16.17.

2) NetApp (NASDAQ: NTAP): Shares of NetApp finished down 1.5% from yesterday's close to $49.96.

3) Citrix Systems (NASDAQ: CTXS): Shares of Citrix Systems finished down 1.2% from yesterday's close to $78.30.

The Health Care Sector was the weakest performing area of the S&P 500 in today's session, gaining a marginal 0.1% on the day. Major Health Care names have been on a tear lately, but started to pull back in today's action. The sector is due for a short-term downside correction. The strongest performing stocks in the S&P Healthcare Sector in today's session were:

1) Mylan (NASDAQ: MYL): Shares of Mylan finished up 1.8% from yesterday's close to $24.18.

2) St. Jude Medical (NYSE: STJ): Shares of St. Jude Medical finished up 1.6% from yesterday's close to $47.61.

3) Waters (NYSE: WAT): Shares of Waters finished up 1.4% from yesterday's close to 1.4%.

Weakness in the Sector: The following Healthcare stocks showed signs of weakness in today's session, despite overall positive Sector performance:

1) Medtronic (NYSE: MDT): Shares of Medtronic finished down 2.3% from yesterday's close to $38.09.

2) Amgen (NASDAQ: AMGN): Shares of Amgen finished down 1.5% from yesterday's close to $57.78.

3) Life Technologies (NASDAQ: LIFE): Shares of Life Technologies finished down 1.4% from yesterday's close to $52.44.

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